Area Development News Desk

06/01/2011

Related Research

CARBO Ceramics of Houston, TX, announces it will invest $17 million in an expansion of its Airport Industrial Park facility in New Iberia, Louisiana, to support production of the firm's engineered products which boost the output of oil and gas wells.

The project is expected to create 40 jobs (average pay: $50,000, plus benefits) and retain 75 positions. The company said it will complete the hiring and facility renovations by fourth quarter 2011. Worldwide, CARBO employs 800 people.

The Acadiana region's abundance of oil industry expertise played a key role in securing the expansion, say state officials This latest expansion follows CARBO's 2010 refurbishment of its first resin-coating line, bringing total capital investment for both projects to $27.8 million.

Louisiana Gov. Bobby Jindal said his state's economy continues to "outperform the South and U.S. thanks to investments from leading companies like CARBO." He noted that the company "could have made this investment in a nearby state, but they instead decided to invest right here in New Iberia because of our strong business climate and our customized workforce training program, Louisiana FastStart." In addition to the FastStart assistance, CARBO is expected to use the state's Quality Jobs and Industrial Tax Exemption incentive programs.

According to Louisiana Economic Development, the firm's 40 new direct jobs will create 86 indirect jobs in the Acadiana Region, and produce an estimated $4.1 million in new state tax revenue and $1 million in new local tax revenue over the first 10 years of the project.

CARBO's President/CEO Gary Kolstad said that during his company's 33-year history in Louisiana, "we have invested tens of millions of dollars in the New Iberia and Shreveport communities..It is satisfying to work collaboratively with the state and increase this long-term investment while providing additional jobs and opportunities to the residents of Acadiana."